1 880 m² Retail Space in Bult East

Bult Boulevard - Potchefstroom - For Sale

Property Location:

The property is located in Die Bult, Potchefstroom. Close to North-West University, Die Bult is a popular suburb for students.

Property Details:

The property is a Retail / Shopping Centre and it is graded as Local Convenient Centre

The erf size is 4,323.00 m2

The building size is 1,880.00 m2

There is a Shell filling station adjacent to the shopping centre but its NOT included in the Sale & does not belong to the mall owner.

Development has the following number of parking bays:

Open Parkings - 60

Covered Parking - 6

The power available on the property is Council power via Pre-Paid Meters for the tenants as well as a 100 KVA generator & grid-tied direct solar system. Solar power is sold to the tenant.

Zoning:

The property is Zoned Business 3 & is Zoned, Serviced and Proclaimed

Tenants:

Building 2

Music Café - 490m2 - 10 yrs expire 2027 (renewal lease in progress for another 10 years)

Building 3

Amarex Couriers 165m2 - 5yrs expire 2027

Music and More 168m2 - 4 yrs expire 12/2025

3% estate agents 49m2 - 3+1yrs expire 12/2025

Building 4

Pivot Dance School 112m2 - 3 year expire 2027

RR Insurance 39.4m2 1 + 1 yrs expire 12/2025

Maroccon Barber Shop 81.4m2 - 3 year expire 2026

Daisy North West 118.5m2 - 3yrs Expire 2026

Uno Vape Shop 81.4m2 3yrs Expire 2026

Building 5

Plumb Link 324.5m2 - 6 yrs expire 2026 (This is their flagship store so will definitely renew lease)

The Music and More shop can be divided in half - So opportunity for another tenant. Currently paying for half the space but using full space. - An additional 120K per annum income.

Financial Details:

Income -

Rental Income R 269 686.00

Solar Income R 43 478.26

Total Monthy Income R 324 110.42 (Excl)

Expenses -

Rates R 18 325.34 (inlciding common water and sewer)

Insurance R 5 826.00

Cleaning Material R 1 200

Cleaing Lady R 4 000

Local Neigbourhood security R 1 200

Waste paper Collection R 1 200

Notes on expenses:

Tenant Electricity on pre-paid meters - Power is sold via tokenns - Solar power is fed back to tenants, inlcuded in the Income above

Tenant Water for own accounts

For Sale:

The property is sold at a 10.5 % yield which gives an asking price of R 31.8m - Vat Excluded

P00005775